Title of article :
Nominalshocksinmonopolisticallycompetitivemarkets:
An experiment
Author/Authors :
Douglas Davis، نويسنده , , OlegKorenok، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2011
Abstract :
A marketexperimentexaminesthecapacityofpriceandinformationfrictionsto
explainrealresponsestonominalpriceshocks.Resultsindicatethatbothpriceand
informationfrictionsimpedetheresponsetoanominalshock,aspredictedbythe
standarddynamicadjustmentmodels.Observedadjustmentdelays,however,far
exceedpredictedlevels.Resultsofapairofsubsequenttreatmentsindicatethata
combinationofannouncingtheshockprivatelytoallsellers(ratherthanpublicly)anda
failureofmanysellerstobestrespondtotheirexpectationsexplainstheobserved
adjustmentinertia
Journal title :
Journal of Monetary Economics
Journal title :
Journal of Monetary Economics
